Magellan Petroleum Announces Election of Milam Randolph Pharo as a
New Director
DENVER, Nov. 9, 2012 /PRNewswire/ -- Magellan
Petroleum Corporation (NASDAQ: MPET; ASX: MGN) today announced that
its Board of Directors elected Milam
Randolph Pharo to fill a vacancy on the Board resulting from
the resignation of William H.
Hastings from the Board on July
16, 2012. Mr. Pharo was elected to hold office for a
term expiring at the Annual Meeting of Shareholders at which the
term of the class of directors in which Mr. Hastings was elected
expires, which is at the third succeeding Annual Meeting of
Shareholders after the 2011 Annual Meeting of Shareholders.
Mr. Pharo, age 60, has over 30 years of experience in the oil
and gas industry, with an emphasis in the Rocky Mountain
region. He has served in private legal practice focusing on
oil and gas matters, and as general counsel to public oil and gas
companies. He most recently served as the Company's Vice
President - General Counsel and Secretary from November 30, 2011 to September 5, 2012. From 1996 to 2010, he
held various positions with SM Energy Company, including Vice
President - Land and Legal and Senior Vice President and General
Counsel. Mr. Pharo received his B.A. degree from the
University of Texas at Austin and his
J.D. degree from Southern Methodist
University.
J. Robinson West, Chairman of the
Board, stated, "We are delighted to have Randy Pharo join our Board. Randy brings
to the Board his extensive experience in the oil and gas industry
and public company corporate governance. He will contribute
substantially to the Board's deliberations and strategic
planning. With the addition of Randy to our Board, we have a
strong Board with complementary experience and skills."
ABOUT MAGELLAN
Magellan is an independent energy
company engaged in the exploration, development, production, and
sale of crude oil and natural gas from currently held assets in
the United States, Australia, and the United Kingdom.
Traded on NASDAQ since 1972, the Company conducts its operations
through two wholly owned subsidiaries, Nautilus Poplar LLC, which
owns interests at Poplar, a highly attractive oil field in the
Williston Basin, and Magellan Petroleum Australia Limited, a
successful independent oil and gas company in Australia and the UK in existence since the
1960s. The Company's mission is to enhance shareholder value
by maximizing the full potential of existing assets. Magellan
routinely posts important information about the Company on its
website at www.magellanpetroleum.com.
For further information, please contact:
Matthew Ciardiello, Manager,
Investor Relations at 720.484.2404
SOURCE Magellan Petroleum Corporation